Dear Friends: Under pre-Act law, a taxpayer could deduct as an itemized deduction qualified residence interest, which included interest paid on a mortgage secured by a principal residence or a second residence. The underlying mortgage loans could represent acquisition indebtedness of up to $1 million ($500,000 in the case of a married individual filing a […]

The President has signed the biggest tax reform law in over 30 years. When you file your 2018 tax returns – about a year from now – your tax return will look very different. And because most changes don’t happen until then, we have some time to learn about the changes and plan for next […]

** TAX RETURN EXTENSION REMINDERS ** December year-end S corporations, partnerships and LLCs have 2016 tax returns due September 15, 2017. December year-end C corporations and 2016 individual returns are due October 16, 2017. ** TAX PLANNING TIPS ** As we head into fall, some of us have children that will be going back to […]

We moved to our new location on August 1st and have been settling in nicely. It has been a pleasure to see so many of our clients and business associates stop by to check out the new space. Our new address is: 15165 Ventura Boulevard, Suite 330 Sherman Oaks, CA 91403 If you have not […]

We are pleased to announce the relocation of our office, to the Bank of the West building. New address, phone and fax numbers will be in effect Monday, August 1, 2016. Our new address will be: Cooper Moss Resnick Klein & Co., LLP 15165 Ventura Boulevard, Suite 330 Sherman Oaks, CA 91403 New office number: (818) […]

To Our Clients and Friends: Year-end planning will be challenging again this year. Unless Congress acts, a number of popular deductions and credits that expired at the end of 2014 won’t be available for 2015. Deductions not available this year include, for example, the election to deduct state and local sales taxes instead of state […]

We are proud to announce the launch of our new “CMRK” website! The new site features a modern, streamlined design for easy navigation and is compatible with all mobile devices. It also includes: • Updated partner profiles with photographs • Tax and financial services offered • News blog • Client portal for convenient, secure document […]

President Obama signed the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 on July 31. The Act revises some important return due dates, overrules a Supreme Court tax decision, revises the employer shared responsibility requirements in the Affordable Care Act (ACA), and includes other tax compliance measures. Although the highway and transportation […]

Congress returns to work in September with a full agenda of tax legislation. Lawmakers will search for revenue to pay for a long-term federal highway and transportation bill, debate the fate of popular but temporary tax breaks, and decide on a funding level for the IRS. As passage of the Surface Transportation Act in late […]

The mortgage interest deduction is widely used by the majority of individuals who itemize their deductions. In fact, the size of the average mortgage interest deduction alone persuades many taxpayers to itemize their deductions. It is not without cause, therefore, that two recent developments impacting the mortgage interest deserve being highlighted. These developments involve new […]